Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of the number of weeks they can continue to fund the financial support schemes for individuals and businesses that have been put in place as a result of the COVID-19 pandemic.

The government has announced unprecedented support for public services, business and workers to protect against the current economic emergency. Our economic response is one of the most generous and comprehensive globally.

The Office for Budget Responsibility note that the measures taken should help limit the long-term damage to the economy and public finances – and the costs of inaction would have been higher.

Precise costs will depend on a range of factors including the impact of the crisis on the wider economy and the level of take-up for each scheme. However, it is clear that the impact on the economy and the government's necessary response will lead to an increase in borrowing in the short-term.

The government intends to finance the additional borrowing through its normal debt management operations. HM Treasury, the Debt Management Office and the Bank of England are cooperating closely to support the orderly functioning of the gilt and sterling money markets